Solana Faces Potential Crash Below $100 as Network Activity Declines

Amid broader market uncertainty, Solana’s price trend continues its downward trajectory. With an intraday pullback of 3.07%, Solana is currently trading at $124.

Declining Solana Prices Warn of $100 Breakdown

On the daily chart, SOL’s price trend faces strong bearish pressure. Since its all-time high of $295, Solana has dropped nearly 60%.

The pullback phase has extended over 60 days, indicating a high likelihood of SOL crashing below the psychological $100 mark.

Solana Price Chart

Following a recovery attempt from a swing low of $112 that peaked at $137, this week has ushered in more bearish momentum. As a result, SOL is likely to reach another lower low, aiming for the S1 pivot support level at $104.30.

With increasing bearish momentum, the $100 psychological support level is at risk. This could lead to the S2 pivot support level at $60 becoming the primary bearish target, indicating a potential downside of nearly 50%.

However, a bullish divergence in the MACD hints at a possible recovery, contingent on broader market stabilization. Should this occur, the center pivot level at $169.20 may serve as the next immediate price target.

Solana Network Activity Slows Down

As SOL prices face mounting bearish pressure, the network experiences a significant decline in activity. The number of active addresses on the Solana network has dropped from 5.69 million to 2.76 million since January 2025, representing over a 50% decline in 60 days. Additionally, new addresses have fallen to 2.6 million. With fewer unique first-time signers, demand for the SOL token is likely to diminish.